Increase in US Retail Sales Eases Recession Fears

Retail sales in the US rose 0.4 percent after a 0.3 percent in July. This is the largest gain in five months and is easing concerns that the American economy could fall back into recession.

“It suggests American consumers remain resilient despite the backdrop of high unemployment and declining home values. On the margin, this data reduces some concerns about a double-dip recession,” said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange in Washington.

Source: Reuters

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.